On this page of StockholderLetter.com we present the 3/14/2023 shareholder letter from Avery Dennison Corp — ticker symbol AVY. Reading current and past AVY letters to shareholders can bring important insights into the investment thesis.

 •  3/14/2023 Letter Continued (Full PDF)
 •  3/11/2024 AVY Stockholder Letter
 •  3/7/2025 AVY Stockholder Letter
 •  More "Packaging & Containers" Category Stockholder Letters
 •  AVY Benford's Law Stock Score = 92

AVY 3/14/2023 Shareholder/Stockholder Letter Transcript:

2022
Sustainability and
Annual Reports
2023
Notice and Proxy
Statement


Letter from Our Chairman/CEO
and President/COO
Fellow Stakeholders,
Our team at Avery Dennison once again delivered
impressive results in 2022 in the face of an extremely


Continued strong operating results
groups: Materials and Solutions. Both groups posted




                                           T                                                              


                         T                     g                                                                   
q                                                                                                        

Sustainability is integral to our success

communities and planet. We are committed to using our

                                                                                              g       


Supporting our people and communities worldwide
                 '               G                      'G                             
important part of our commitment to our communities. Our



Creating long-term value for all of our stakeholders
Accelerating growth: Intelligent Labels
T                                                                                              
                                                                              H                


your interest in Avery Dennison.
~     T                     g                                                                    
                                                                    T                     g         





Mitch Butier
Chairman & CEO
Deon Stander
President & COO
Avery Dennison Corporation |          T                                1

About This Report















                                                                    '                                 T                    




















                                                                             T                                                 
       /  H '                                                                                                       
                                                esg.averydennison.com.
2
         T                                 | Avery Dennison Corporation

Contents
Section I


g                    ~                       /~ 



4
Our Company
5
Our Stakeholders
5
Our Values
6
Our Business Strategies

G                 O                  

                             O                  
Our Strategies in Action
      '         ~               H                O                                      
      H                               ~                                
      G                                                               
15
Allocate Capital Effectively
      g                 /                             
                                               q          
Section II

Section III
         s                                               



 3/14/2023 Letter Continued (Full PDF)